Tag: Central Bank of Brazil

• Tuesday, July 25th 2023 - 11:40 UTC

  Lula expects the Central Bank to lower the benchmark interest rate next week

  

  Brazil's President Luiz Inácio Lula da Silva and his economic team in their ongoing battle with the independent Central Bank, have anticipated they expect a cut in the benchmark interest rate, of at least 25 points, pressuring bank policymakers to lower borrowing costs given a dramatic fall in inflation.

• Thursday, June 22nd 2023 - 15:57 UTC

  Sigh of relief as Brazil leaves bank rate unchanged at 13,75%

  

  Brazil's Central Bank left its benchmark interest rate unchanged but softened its tone regarding further efforts to slow inflation. The bank's monetary policy committee, Copom, left the key Selic rate at 13.75%, where it has stood since August after a series of consistent rate hikes aimed at slowing inflation.

• Thursday, June 15th 2023 - 10:55 UTC

  Brazil: Haddad congratulates Congress and STF for better S&P ratings

  

  Brazil's Finance Minister Fernando Haddad Wednesday said that the improved outlook by the risk rating agency Standard & Poor's (S&P) was due to the harmony between the branches of government, Agencia Brasil reported. In Haddad's view, National Congress and the Federal Supreme Court (STF) have an important role in the S&P's decision, but the Central Bank (BCB) needs to “join the effort” and start reducing the interest rates.

• Thursday, June 1st 2023 - 10:20 UTC

  Brazil's surplus falls 47% interannually in first four months of 2023

  

  Brazil's Central Bank (BCB) reported Wednesday that the South American country's public sector accounts (federal government, states and municipalities, and state-owned companies) recorded a primary surplus of R$ 78.7 billion reais (US$ 15.515 billion) in the first four months of 2023, which represented a 47% YoY drop.

• Monday, April 17th 2023 - 22:40 UTC

  Brazilian analysts 2023 expectations: stronger Real vs the Dollar and economy will grow below 1%

  

  The Brazilian Central Bank released its weekly Focus Bulletin this Monday, which brings together an estimate of the country's economy's future performance by leading financial markets analysts.

• Thursday, March 23rd 2023 - 10:45 UTC

  Brazil central bank keeps rate unchanged despite Lula's government complaints, “the highest in the world”

  

  The Brazilian Central kept interest rates unchanged for the fifth consecutive policy meeting on Wednesday, increasing concern and criticism from the government of president Lula da Silva. The bank's rate-setting committee, Copom, maintained its Selic benchmark interest rate at 13.75%. The decision, which defied intense pressure from the government of Lula da Silva, matched the expectations of analysts.

• Wednesday, March 22nd 2023 - 10:35 UTC

  Lula insists in criticizing central bank autonomy: current rate of 13,75% is “irresponsible”

  

  Brazilian President Luiz Inacio Lula da Silva criticized on Tuesday the country's central bank, saying that an interest rate of 13.75% - its current level - is “irresponsible,” adding he will continue to fight the current level to stimulate the economy.

• Tuesday, February 14th 2023 - 10:49 UTC

  Brazilian markets relief: Lula da Silva will respect Central Bank's autonomy

  

  Brazil’s Real remained stable after one of President Luiz Inácio Lula da Silva’s cabinet members said the administration will respect a law that gives autonomy to the central bank despite the president’s growing attacks against the monetary authority.

• Thursday, February 2nd 2023 - 10:28 UTC

  Brazil Central Bank leaves benchmark rate unchanged at 13,75%; warns about fiscal policy

  

  Brazil's Central Bank on Wednesday left the Selic benchmark interest rate at 13,75%, but in the adjoining release, the bank's rate setting committee, Copom said the high interest rate policy is expected to last longer than market expectations because of fiscal risks

• Tuesday, December 6th 2022 - 09:48 UTC

  Brazil's Central Bank adjusts 2022 inflation projections by 0.01%

  

  Brazil's yearly inflation has been projected to reach 5.92% by the end of 2022, a 0.01% increase from last week's estimates, according to the Central Bank's (BCB) bulletin released Monday, while the Gross Domestic Product is expected to close at 3.05%.